Chicago, March 31, 2023 (GLOBE NEWSWIRE) -- The Global Geospatial Analytics Market Size is projected to grow from USD 67.4 Billion in 2022 to USD 119.9 Billion by 2027, at a CAGR of 12.2% during the forecast period, according to report by MarketsandMarkets. Geospatial analytics collects geographic information from earth observation, GIS, GNSS & positioning, 3D scanning, satellite photos, location sensors, social media, and mobile devices, creates visualizations, and aids in determining the connections between people and places. Businesses can enhance decision-making and develop targeted marketing campaigns with the help of geospatial analytics to increase qualified leads.
Browse in-depth TOC on “Geospatial Analytics Market”
296 – Tables
46 – Figures
295 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=198354497
Scope of the Report
| Report Metrics | Details |
| Market size value in 2022 | USD 67.4 Billion |
| Revenue forecast by 2027 | USD 119.9 Billion |
| Growth Rate (CAGR) | CAGR of 12.2% from 2022 to 2027 |
| Largest Market | North America |
| Market size available for years | 2016–2027 |
| Base year considered | 2022 |
| Forecast period | 2022–2027 |
| Segments Covered | Component, Solutions, Technology, Deployment Mode, Type, Organization Size, Application, Industry Vertical, and Region |
| Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Companies covered | Esri (US), Precisely (US), Caliper Corporation (US), Blue Marble Geographic (US), Google (US), eSpatial (Ireland), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley Systems (US), Fugro (Netherlands), Orbital Insights (US), Mapidea (Portugal), Geospin (Germany), Sparkgeo (Canada), Orbica (New Zealand), Descartes Lab (US), Skymap Global (Singapore), Remote Technologies (US), CARTO (US), UBIMO(US), Pasco Corporation (Japan), Geoviet Consulting (Vietnam), Mandalay Technology (Myanmar), GIS Co. Ltd. (Thailand), Suntac Technologies (Myanmar), Geomatic Consulting International (Vietnam), Imago Global (Mynamar), Mappointasia (Thailand), Vegastar Technology (Vietnam), HERE Technologies (Netherlands) |
The usage of smart wearables, robotics, and drones is expanding, which is assisting the development of geospatial analytics solutions. For enterprises to react to the emergency, preserve operational consistency, and assist the procedure of rebuilding, maps and GIS offer invaluable information. A few technologies that may be used to better comprehend the issue and make support rapid are GIS, analytics, and big data.
By component, the geospatial analytics market has been divided into solutions and services. Data relevant to maps, such as zip codes, addresses, or latitudinal and transverse directions to a location, is gathered, managed, organized, and stored by geospatial solutions. It makes use of urban and aerial photos, digital and analogue maps, and satellite-gathered data. Global Positioning Systems (GPS), Geographic Information Systems (GIS), imaging analysis, and remote sensing are instances of geospatial technology.
The geospatial analytics market, by deployment type, has been segmented into cloud and on-premises. The on-premises deployment's many benefits, including its high degree of data protection and safety, will drive the geospatial analytics market's planned growth. The cloud segment, however, is anticipated to increase at a faster rate in the future years. Because all data is saved on cloud servers, cloud deployments don't need to invest in IT infrastructure, which raises the need for geospatial analytics software in small and medium-sized businesses.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=198354497
The large-scale enterprise category led the total geospatial analytics market in 2021 based on organizational size, and this trend is anticipated to hold throughout the forecast period. This is because businesses are using geospatial analytics more frequently to acquire a strategic and competitive edge over their rivals. Additionally, it makes it possible for massive business verticals to understand client requirements depending quickly and easily on geolocation. Customers utilize geospatial analytics to gain fresh perspectives on vast amounts of heterogeneous data, including recent and historical data. With the use of this technology, it is possible to conduct algorithms and analyses on a sizable data collection to uncover pertinent links, entities, and insights.
The geospatial analytics market is segmented into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. This chapter provides insights into these regional markets in terms of market size, growth rates, future trends, and market drivers. North America is expected to account for the largest market share in the overall geospatial analytics market during the forecast period. Technological developments in big data, machine learning, and artificial intelligence are the main drivers of the geospatial analytics industry to grow in this region. By reducing turnaround times, eliminating human error, automating repetitive operations, identifying trends, and producing the intended results, artificial intelligence increases company efficiency. Europe is expected to account for the second-largest market share during the forecast period. The need to streamline application development and reduce the time taken to develop applications are expected to drive the North American and European markets. Asia Pacific and Latin America are also expected to witness high growth rates during the forecast period.
Top Key Players
Major vendors in the global Geospatial analytics market Esri (US), Precisely (US), Caliper Corporation (US), Blue Marble Geographic (US), Google (US), eSpatial (Ireland), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley Systems (US), Fugro (Netherlands).
Browse Adjacent Markets: Analytics Market Research Reports & Consulting
Related Reports:
Decision Intelligence Market - Global Forecast to 2027
Data Pipeline Tools Market - Global Forecast to 2027
Artificial Intelligence (AI) Market - Global Forecast to 2027
Call Center AI Market - Global Forecast to 2027
Social Media Analytics Market - Global Forecast to 2026
